Enabling the Data-Driven Audit with an Intelligent Data Management Platform
The Scenario – A Complex and Poorly Integrated Software Stack A midsized audit firm has implemented various audit software tools to capture data, analyze risk, and perform tests. Each Software-as-a-Service (SaaS) platform was selected to perform a specific function, with little consideration given to how data is organized and coded to flow between the applications. […]
Why Do Accounting Software Deployments Fail?
An important question for audit firms is – “What are the challenges when implementing technology and what’s needed for a successful deployment?” Our answer: intelligent data management. Audit firms have always invested in technology, and they are constantly looking for ways to improve their performance, lower costs, and enhance client engagements. Today’s AI tools and […]
3 Data-Driven Approaches That Will Enable Higher Quality Audits
Today, new data-driven approaches are changing the face of audit. Rather than relying on time-consuming manual data collection and review processes, auditors can leverage intelligent data management approaches to deliver a more accurate, complete, and independent audit. Despite a reputation for being risk averse, the audit industry has always embraced technologies that improve performance and […]
Elevating Financial Audits with Intelligent Data Management at ALL IN 2024
As the financial audit landscape grows increasingly complex, the volume of data auditors must sift through has become overwhelming. Vigilant AI, a Scale AI and Venture Lab backed Canadian startup, is proud to showcase its innovative software solution designed to streamline and optimize this critical process. Vigilant AI will be showcasing its intelligent data management […]
The Data-Driven Auditor of the Future
The audit world has already surfed the first few waves of digital transformation. What started as a human-centred industry is increasingly embracing new technologies, processes, and approaches to auditing that will reshape the role of the auditor of the future. As the volume of corporate data has grown each year, auditors have been constrained by […]
Keeping Data Secure – The Growing Threat of Cyber-Attacks Against the Audit Industry
Cyber-attacks are a persistent and growing threat to the accounting and auditing industry. Auditors have always taken steps to secure sensitive financial data. Today, auditors frequently use secure file-sharing software and other tools to send, receive, and access documents securely throughout a client engagement. However, the consequences of a successful data breach can be severe, […]
Faster and More Complete Revenue Testing With Vizschön™ A Use Case by Vigilant AI
The Scenario – Revenue Discrepancies Uncovered During Initial Analysis An accounting firm is conducting a year-end financial audit on a midsized commercial landscaping company. The company uses contractors to provide various landscaping services to customers. Services can depend on the time of year, location and size of the property, and customer needs. Contracts are typically […]
Faster Forensic Auditing – How a Furniture Manufacturer Used Vigilant AI’s Vizschön Platform to Pinpoint Cost Overruns
The Scenario – A Newly Opened Mexican Manufacturing Facility An Asian furniture manufacturer supplies numerous retail stores across Asia, the UK, and North America. In response to US tariffs implemented by the Trump administration on Chinese imports, the company acquired and opened a manufacturing facility in Mexico. To meet demand and continue delivery of products […]
Improving Audit Quality – How Intelligent Data Management Reduces Audit Risk
Auditors play a critical role in ensuring the quality of financial reports. But as the volume and complexity of corporate financial data grows, traditional approaches to data management and review simply cannot keep up. To ensure audit quality, auditors are continuing to assess and evaluate artificial intelligence (AI) tools and platforms that will help improve […]
Attracting and Retaining Auditors – The Role of Technology During a Skills Shortage
Like many industries, the accounting and audit profession is dealing with a severe shortage of skilled workers that adversely affects employees and audit firms. We need to attract and ensure we are retaining auditors With fewer new graduates entering the job market, an aging workforce nearing retirement, and an exodus of accountants to other industries, […]
